Month: November 2019

On September 6, 2018, the American Hotel & Lodging Association (AHLA) announced its 5-Star Promise initiative. Finding the right hotel construction financing options will help you upgrade security measures as a part of this program. Also, it can create the best outcomes for your hospitality company and the safest environment for your guests and your staff members.

What Is the 5-Star Promise?

The AHLA announced the 5-Star Promise initiative as part of its ongoing efforts to promote the safest possible settings for employees in the hospitality industry. Some of the most important elements of this voluntary program include:

AHLA training programs for safety, security and diversity in the workplace

Partnerships between AHLA and the National Alliance to End Sexual Violence, Polaris, End Child Prostitution and Trafficking and other agencies and organizations to focus on workplace safety and the end of sexual violence and child abuse

The AHLA also recommends that employees are given safety devices as part of participation in the 5-Star Promise initiative. Surely you want to promote safety for your employees. However, depending on the how big your staff s and the types of security devices needed, hotel financing solutions may be necessary to create a safe environment in line with AHLA’s suggestions.

Participation on the Rise

Since it was announced, participation in the 5-Star Promise program has increased by 230%. Currently, about 20,000 properties have committed to the principles of the 5-Star Promise. They are putting the safety and well-being of their employees at the top of their priorities. The right hotel loans can provide financial support for these and other activities in the hospitality industry.

Finding the Right Hotel Construction Financing Solutions

Renovating, upgrading, and adjusting safety in your properties is an ongoing process. These projects mean you want the most practical hotel construction financing options available. Working with a company that specializes in hotel financing is the best way to manage expenses of this nature. Your hotel lending company will provide you with the right solutions for short-term and long-term lending arrangements in the hospitality industry.

If your company needs the best and most practical options for hotel funding, Stonehill is the best and most practical solution for your needs. We are direct lenders with a commitment to quality and customized arrangements for our customers. Call us today at 713-666-2544. Our team will be happy to work with you to create the most practical financing solutions for your needs.